Information about Asia and the Pacific Asia y el Pacífico
Front Matter

Front Matter

Author(s):
Eswar Prasad
Published Date:
June 2004
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Information about Asia and the Pacific Asia y el Pacífico
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© 2004 International Monetary Fund

Production: IMF Multimedia Services Division

Typesetting: Choon Lee

Figures: Theodore F. Peters, Jr.

Cataloging-in-Publication Data

  • China’s growth and integration into the world economy: prospects and challenges/edited by Eswar Prasad; with contributions from Steven Barnett… [et al.]—Washington, D.C.: International Monetary Fund, 2004.
    • p. cm. — (Occasional paper, 0251–6365; 232)
      • Includes bibliographical references.
      • ISBN 1-58906-258-2
  • 1. China—Foreign economic relations. 2. Prices—China. 3. Foreign exchange—China. 4. Banks and banking—China. 5. Labor market—China. I. Prasad, Eswar. II. Barnett, Steven (Steven Alan). III. Occasional paper (International Monetary Fund); no. 232.

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Contents

The following symbols have been used throughout this paper:

  • … to indicate that data are not available;
  • — to indicate that the figure is zero or less than half the final digit shown, or that the item does not exist;
  • – between years or months (e.g., 2001–02 or January-June) to indicate the years or months covered, including the beginning and ending years or months;
  • / between years (e.g., 2001/02) to indicate a fiscal (financial) year.

“n.a.” means not applicable.

“Billion” means a thousand million.

Minor discrepancies between constituent figures and totals are due to rounding.

The term “country,” as used in this paper, does not in all cases refer to a territorial entity that is a state as understood by international law and practice; the term also covers some territorial entities that are not states, but for which statistical data are maintained and provided internationally on a separate and independent basis.

Preface

This Occasional Paper provides an overview of analytical work done by IMF staff as background for the 2002 and 2003 Article IV Consultations with the People’s Republic of China.

The authors would like to express their deep appreciation for the valuable guidance provided by Steven Dunaway, the IMF’s mission chief for China during this period. They also thank David Burton and Wanda Tseng for their encouragement and advice. The authors are grateful to the Chinese authorities for the information that they provided and for the extensive discussions and comments that helped sharpen the analysis and presentation in this paper. Ioana Hussiada provided research assistance for this project; Yuko Kobayashi and Carolina Klein handled the preparation of the manuscript; and Esha Ray of the External Relations Department coordinated production of the publication.

The opinions expressed in this paper are solely those of its authors and do not necessarily reflect the views of the International Monetary Fund, its Executive Directors, or the Chinese authorities.

Abbreviations and Acronyms

ABC

Agricultural Bank of China

ASEAN

Association of South-East Asian Nations

ATC

Agreement on Textiles and Clothing

BOC

Bank of China

CARs

Capital adequacy ratios

CBRC

China Banking Regulatory Commission

CCB

China Construction Bank

CNAO

National Audit Office of the People’s Republic of China

CPI

Consumer price index

EIT

Enterprise income tax

EMBI

JP Morgan Emerging Market Bond Index

EU

European Union

FDI

Foreign direct investment

FFEs

Foreign-funded enterprises

GDP

Gross domestic product

GTAP

Global Trade Analysis Project

ICBC

Industrial and Commercial Bank of China

ILO

International Labor Organization

JSCBs

Joint-stock commercial banks

MFN

Most-favored-nation

MOLSS

Ministry of Labor and Social Services

NBS

National Bureau of Statistics

NEER

Nominal effective exchange rate

NFA

Net foreign assets

NIEs

Newly industrialized economies

NPL

Nonperforming loan

NTBs

Nontariff barriers

OECD

Organization for Economic Cooperation and Development

OLS

Ordinary least squares

PBC

People’s Bank of China

PPI

Producer price index

PPP

Purchasing power parity

RCCs

Rural credit cooperatives

RECs

Reemployment centers

REER

Real effective exchange rate

RPI

Retail price index

SCBs

State-owned commercial banks

SITC

Standard International Trade Classification

SOE

State-owned enterprise

TRIMs

Trade-Related Investment Measures

TRIPs

Trade-Related Aspects of Intellectual Property Rights

TSA

Treasury single account

TVEs

Town and village enterprises

ULC

Unit labor costs

UNCTAD

United Nations Conference on Trade and Development

VAR

Vector autoregression

VAT

Value-added tax

WTO

World Trade Organization

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